Somerville, MA—02144
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Somerville, MA
As of Oct '25, the median home price in Somerville, MA is $1,022,000, with a year-over-year change of -0.8%. This indicates that home prices in Somerville, MA are flat. According to Zillow, the 1-year price projection is 0.9%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $1,022,000 | -0.8% |
| Single Family | $1,341,000 | -1.7% |
| Condos | $910,000 | -1.7% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $676,000 | -2.2% |
2 Bed | $846,000 | -1.9% |
3 Bed | $1,165,000 | -1.6% |
4 Bed | $1,410,000 | -2.2% |
| 5 Bed | $1,586,000 | 0.5% |
% of Housing Stock
Rental Trends — Somerville, MA
As of July '25, Rentcast reports the average rent in Somerville, MA is $3,790, with a year-over-year rent change of -1.6%. Per bedroom, the median rent as of July '25 in Somerville, MA is studios: $2,420, 1-bedrooms: $2,630, 2-bedrooms: $3,370, 3-bedrooms: $3,970, 4-bedrooms: $4,660. The most common rental property sizes in Somerville, MA are 2-bedroom and 1-bedroom, accounting for 38.9% and 24.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $3,600 | $3,790 |
| Studio Rent | $2,550 | $2,420 |
| 1 Bed Rent | $2,650 | $2,630 |
| 2 Bed Rent | $3,300 | $3,370 |
| 3 Bed Rent | $3,900 | $3,970 |
| 4 Bed Rent | $4,600 | $4,660 |
% of Rental Stock
Property Listings — Somerville, MA
As of Oct '25, Realtor.com reports that the median days on market for a home in Somerville, MA is 37. This is a decrease of -37.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 31.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $1,360,000 | 4.0% |
Listing Count | 26 | -7.0% |
| Listings as % of Homes | 0.2% | -7.0% |
Days on Market | 37 | -37.0% |
Demographics — Somerville, MA
As of the latest ACS Survey released in 2023, Somerville, MA has a population of 25,000, which has decreased by -1.1% over the past 5 years. Somerville, MA is a less popular place for families, as children make up 11.4% of the population. The area has a highly educated workforce, with 75.2% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 29.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 25,000 | -1.1% |
% Under 18 | 11.4% | 31.0% |
% Seniors | 9.8% | -2.0% |
% WFH | 29.2% | 630.0% |
% w/ College Degree | 75.2% | 1.6% |
As of the latest ACS Survey released in 2023, Somerville, MA is a predominantly white area, with 72.4% of the population identifying as white. The white population has shrunk by 11.7% in the last 5 years. The second most common race or ethnicity in Somerville, MA is asian, making up 11.3% of the population. Foreign-born residents account for 17.0% of the population in Somerville, MA, and this percentage has increased by 32.8% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 72.4% | -11.7% |
% Black | 2.7% | -32.5% |
% Hispanic | 8.1% | 55.8% |
% Asian | 11.3% | 66.2% |
% Foreign Born | 17.0% | 32.8% |
Mortgage and Risk — Somerville, MA
According to HUD data as of 2023, there were 212 mortgage originations in Somerville, MA, of which 100.0% of loans were conventional mortgages. The average loan-to-value was 54.0%, with 5.0% above 90% LTV (normal). This implies small mortgage risk in Somerville, MA. Investor activity is low, as 6.0% of loans were by investors. 2.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 212 |
% Conventional Loans | 100.0% |
% Government Loans | 0.0% |
% Investor Loans | 6.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 2.0% |
Loan Activity
Rentals and Section 8 — Somerville, MA
As of 2024, the percent of homes in Somerville, MA under the Section 8 program is 8.3%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Somerville, MA, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.
Section 8 Market Size
Total Units under HUD | 734 |
Total Units Section 8 | 572 |
% Rentals under Section 8 | 8.3% |
% Occupied Section 8 | 89.2% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $290 | $2,650 | $2,940 |
| 2 Bedroom | $180 | $3,300 | $3,480 |
| 3 Bedroom | $290 | $3,900 | $4,190 |
| 4 Bedroom | $10 | $4,600 | $4,610 |
Affordability — Somerville, MA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 7 |
| Median Home Price | $1,022,000 |
| Median Household Income | $141,000 |